Mechanical machines, particularly those operating in industrial settings, are periodically maintained to keep the machines running efficiently. Similarly, electrical and electronic equipment (e.g., computers, servers, circuit, switch boards, power supply equipment, etc.), vehicles, industrial prime movers, household equipment such as, for example furniture, laboratory equipment (e.g., flasks, vials, ampules, test tubes, etc.) or any other instrument or equipment require periodic maintenance, repair and/or replacement. The parts included in such machines and equipment such as, for example, rivets, screws, bolts, nuts, washers, electrical components (e.g., resistors, capacitors, diodes, transistors, etc.) and the likes often break or wear out, and have to be replaced. Furthermore, consumable parts (e.g., laboratory equipment) have to be periodically reordered. Conventionally, the replacing of such parts involves identification of the part by a user (e.g., a maintenance personnel), searching for replacements parts in supplier catalogs or online and then selecting a replacement part which best matches the part to be replaced based on the users judgment. This is often a very tedious task which can take a substantial amount of time. For example, the serial or identification numbers on the parts to be replaced are often illegible or have worn out making it difficult to identify the part. Furthermore, searching for the replacement part through multiple supplier catalogs can take a long time leading to delay in replacement of the part and thereby, operation of the machine.